Jharkhand Fiscal Responsibility and Budget management (Amendment) Act, 2010

No: 3 Dated: Apr, 01 2010

THE JHARKHAND FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT (AMENDMENT) ACT, 2010

[Jharkhand Act 03, 2010]

    An Act to amend the Jharkhand Fiscal Responsibility and Budget Management Act, 2007 (Act 07, 2007) in pursuance of the sanction of the Government of India in the Financial year 2009-10 to borrow market debt up to 4% of the Gross State Domestic Product.

    Be it enacted by the Legislative of Jharkhand in the Sixtyfirst year of the Republic of India as follows :--

1. Short title extent and commencement; (i) This Act may to called the Jharkhand Fiscal Responsibility and Budget management (Amendment) Act , 2010.

(ii) It shall extend to the whole of the State of Jharkhand.

(iii) It shall come in to force from the date of the notification in official Gazette.

2. Amendment in section 5 (1) (b) of the Jharkhand Fiscal Responsibility And Budget Management Act, 2007;- Section 5 (1) (b) of the Jharkhand Fiscal Responsibility and Budget Management Act , 2007 is substituted as follows :--

“Reducing fiscal deficit to 3% (Three Percent) of the estimated Gross State Domestic Product at the end of 31st March 2011”